Briefly: India’s defence industry produced a record $12B in ammunition and weapons during FY2022. That’s a 12% increase from the year prior.
India has been the world’s largest arms importer for over a decade, sourcing nearly half its military gear from Russia. But Russia’s invasion of Ukraine and China’s assertive style have nudged India to become more self-sufficient.
Indian policymakers are achieving that by co-producing foreign weapons at home, as well as encouraging local suppliers. In fact, India has nearly tripled the number of its defence industry permits in recent years.
Stay on top of your world from inside your inbox.
Subscribe for free today and receive way much more insights.
Trusted by 122,000+ subscribers
No spam. No noise. Unsubscribe any time.
Intrigue’s take: You could almost replace the words “Indian defence industry” with:
- 🇺🇸 US chip-making industry
- 🇳🇬 Nigerian fertiliser industry, or
- 🇻🇳 Vietnamese computer industry
… and the story would be much the same. The world is getting a little cray-cray, and governments everywhere are battening down the hatches.
Also worth noting:
- The US and India signed an agreement earlier this year to boost co-production of critical defence technologies.
- Though India is still a net importer of arms and ammunition, its weapons exports increased 24% in the last year.
- Total global military expenditure hit a record $2.24 trillion last year.
